The team behind the Exscudo ecosystem has announced its first product — the mobile application of Exscudo channels

The Exscudo Channels application unites the functions of a mobile multiple crypto-wallet portfolio and a secure messenger. The application will be released in the second quarter of 2017.

Why is it so safe?

Exscudo Channels is the most convenient and secure tool for sending money and information from mobile devices. The Exscudo team took the best practices of blockchain solutions to provide maximum application reliability. Despite two-factor authentication and other common security measures, the team has implemented more advanced features to protect users.

All messages are encrypted before they reach the blockchain. Exscudo Channels uses the algorithm of elliptic curves.It is absolutely impossible to track messages and finances: no one knows where the message comes from and where it goes. Information is being processed on all nodes of the network simultaneously.The private key is stored on the user’s device without being transmitted in pairs.The messenger can not be blocked or banned, since new nodes and pairs can be configured immediately, preventing the system from breaking.The digital signature protects against unauthorized changes or sending messages during the delivery process. The public key digital signature is stored in the public domain on the network itself.HTTPS is an additional security measure for message encryption.The idea behind the Exscudo channels was to create the ideal solution for secure communications for private and commercial use. The product will be of interest to users who need a tool for secure business communication as well as for those seeking absolute privacy and anonymity in daily chats.What can I do with Exscudo Channels?

With Exscudo channels, people can send and receive messages and money quickly, easily and securely. The application unites the functions of a wallet and a messenger, and each of these two has its own characteristics.

The multiple currency wallet is connected to the user account in Exchange Exscudo. It allows people to store, send, receive and exchange crypto-coins in real time with a minimum spread. It also supports NFC for direct payments of a device. In the future, you will be able to pay with Crypto-Coins from Exscudo Channels, even at convenience stores. The money is being converted automatically: if a user pays from a BTC wallet for a good that has a price in USD, the money is converted by Exscudo Exchange automatically. The application will also be integrated with Exscudo bank cards, but this functionality will be released in later application updates.

The messenger supports different types of chats. There are private, personal and group chats as well as public channels. In private chat, users can send and receive money directly in the chat. The user only needs to touch the special button to make the transfer. Group chats are the usual conversations of multiple users for friends and colleagues. The group channel administrator can invite only your contacts to group chat. But the public channels make the difference. These are created for media people and companies, as they provide for the monetization of published content. These channels can be browsed openly in the application search and are usually dedicated to specific topics: new ones, hobbies or corporate updates.

Another feature of the app are the valuable tastes.

What are valuable tastes?

The mechanism is easy: if you like a post from another user, press the ‘like’ button. In doing so, you send that person a small amount of EONs, the cryptomeoid that feeds the Exscudo ecosystem. This is a form of monetization for public channels, but also a means of approval for personal and group chats.

What does blockchain do?

The application is based on EON blockchain. EON is the proprietary product developed by the Exscudo team. The main feature of this blockchain is that it stores only the data that is required for verification by other peers. Personal data and messages are not stored in the blockchain. Before entering the block chain, the data is being encrypted. EON is the fuel for all Exscudo products. Its small size provides high flexibility and speed. EON uses the Delagated Proof of Stake (DPOS) algorithm to process transactions quickly and securely. EON tokens owners can also set up their own nodes and receive commissions from transactions within the network.

The Exscudo Channels application and the EON blockchain are planned to be released in the second quarter of 2017. Many advanced features will be added.